| Schedule of Earnings Per Share, Basic and Diluted |
Earnings
per share have been retroactively adjusted for the effect of annual stock dividends. In accordance with GAAP, the basic and diluted earnings
per share were calculated as follows:
Schedule of Earnings Per Share, Basic and Diluted
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three
Months Ended
June 30, | | |
Six
Months Ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Numerator: | |
| | | |
| | | |
| | | |
| | |
| Net
earnings | |
$ | 8,981,697 | | |
$ | 8,370,755 | | |
$ | 15,983,123 | | |
$ | 14,784,490 | |
| Denominator: | |
| | | |
| | | |
| | | |
| | |
| Basic
weighted-average shares outstanding | |
| 26,040,005 | | |
| 26,007,334 | | |
| 26,049,116 | | |
| 25,973,466 | |
| Effect
of dilutive securities: | |
| | | |
| | | |
| | | |
| | |
| Employee
stock options | |
| 851,949 | | |
| 799,533 | | |
| 789,127 | | |
| 933,970 | |
| Unvested
restricted stock units | |
| 735 | | |
| - | | |
| 405 | | |
| - | |
| Diluted
weighted-average shares outstanding | |
| 26,892,689 | | |
| 26,806,867 | | |
| 26,838,648 | | |
| 26,907,436 | |
| Basic
net earnings per share | |
$ | 0.34 | | |
$ | 0.32 | | |
$ | 0.61 | | |
$ | 0.57 | |
| Diluted
net earnings per share | |
$ | 0.33 | | |
$ | 0.31 | | |
$ | 0.60 | | |
$ | 0.55 | |
|